Joint Stock Company Kaspi.kz
NASDAQ•KSPI
CEO: Mr. Mikheil N. Lomtadze
セクター: Technology
業種: Software - Infrastructure
上場日: 2018-07-23
Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in the Republic of Kazakhstan. It operates through three segments: Payments Platform, Marketplace Platform, and Fintech Platform. The Payments Platform segment facilities transactions between customers and merchants. This segment offers shopping transactions, regular household bills, and peer to peer payments for consumers; accepts payment online and in store, issue and settle invoices, pay suppliers and monitor merchant turnover. It also provides proprietary data facilities informed decision making across multiple areas of business. Its Marketplace Platform segment connects online, and offline merchants and consumers enabling merchants to enhance its sales through an omni channel strategy and enable consumers to buy products and services from various merchants. This segment also operates marketplace through m-commerce, a mobile solution for shopping in person which consumers can use e-commerce to shop anywhere, anytime with free delivery; Kaspi Travel allows consumers to book domestic and international flights and package holidays, domestic rail tickets. It also enhances merchants sales by connecting payments and fintech products, Kapsi advertising, and other delivery services. The Fintech Platform segment provides consumers with BNPL, finance, and savings products and merchants with merchant finance services through super apps and Kapsi.kz Super app. It also involved in the banking; distressed asset management; real estate business; payment processing; online travel; and storage and processing of information services. The company was incorporated in 2008 and is headquartered in Almaty, the Republic of Kazakhstan.
連絡先情報
時価総額
$15.43B
PER (TTM)
6.9
42.7
配当利回り
2.1%
52週高値
$99.20
52週安値
$68.59
52週レンジ
順位6
7.5
F-Score
改良版 Piotroski 分析
6年ファンダメンタル
強い • 7.5 / 9 ポイント
スコアレンジ (0-9)
8-9: 価値が優れている
6-7: 基礎体質が強い
4-5: 全体的に堅調
0-3: パフォーマンスが弱い
データ期間: 2020-2025
財務ダッシュボード
Q4 2025 データ
売上高
$2.12B+0.00%
直近4四半期の推移
EPS
$2.69+0.00%
直近4四半期の推移
フリーCF
-$2.64B+0.00%
直近4四半期の推移
2025 Annual 決算ハイライト
主なハイライト
Total Revenue Surges 60% Total revenue reached ₸4.05T, up 60% driven by Hepsiburada acquisition and strong growth across all platforms.
Payments TPV Hits ₸44.22T Payments Total Payment Value grew 19% to ₸44.22T, fueled by increased consumer transactions and active users.
Fintech TFV Expands 13% Total Finance Value in Fintech increased 13% to ₸11.65T, supported by strong loan origination volume.
Marketplace GMV Reaches ₸6.66T Marketplace Gross Merchandise Value grew 11% to ₸6.66T, driven by e-Commerce and Kaspi Travel expansion efforts.
リスク要因
Fintech Profitability Pressured Higher than normal interest rates directly contributed to declining profitability within the Fintech segment during 2025.
Credit Quality Deterioration Non-performing loans ratio rose to 6.1% of gross loan portfolio in 2025, indicating increased credit risk exposure.
Evolving Regulatory Landscape Uncertain and evolving legislative frameworks in Kazakhstan pose risks to business operations and compliance costs.
Cybersecurity Incident Exposure Hepsiburada experienced a cybersecurity incident in February 2024, highlighting ongoing threat sophistication risks.
見通し
Capitalizing on Digitalization Growth Expect continued growth driven by digitalization, focusing on increasing transaction frequency across Payments and Marketplace platforms.
Expanding New Verticals Plan to grow Payments Platform by identifying and scaling new, earlier-stage verticals like B2B Payments and BINPL financing.
Replicating Kazakhstan Success Strategy includes replicating successful Super App model into new geographies, notably expanding Hepsiburada in Türkiye.
Investing in Proprietary Technology Continue investing heavily in proprietary technology, AI, and machine learning capabilities to enhance decision-making and user experience.
同業比較
売上高 (TTM)
$7.70B
$6.84B
$4.73B
粗利益率 (最新四半期)
81.9%
81.4%
79.7%
主要指標
銘柄コード | 時価総額 | PER (TTM) | ROE (TTM) | 負債比率 |
|---|---|---|---|---|
| QXO | $17.18B | -0.5 | -3.2% | 28.2% |
| KSPI | $15.43B | 6.9 | 50.1% | 3.1% |
| AKAM | $14.25B | 30.9 | 9.6% | 60.2% |
長期トレンド
直近4四半期
売上高
純利益
営業キャッシュフロー
4四半期売上高CAGR
9.5%
安定成長
4四半期純利益CAGR
1.1%
収益性の緩やかな改善
キャッシュフロー安定性
25%
キャッシュフローに注意が必要
深度リサーチ
次回決算:2026年4月27日
EPS:$2.78
|売上高:$2.14B
財務データ
決算説明会
財務レポート
ニュース
損益計算書
バランスシート
キャッシュフロー計算書
財務比率
変化率
損益計算書 | 直近12ヶ月 |
|---|
データなし